The global licensing community is powered by an incredible group of professionals whose diverse backgrounds and creative energy drive innovation and excellence. We profile one of these professionals each week, and in this special edition of the People Profile series we are introducing one of the 2023 Rising Stars Award recipients to shine a spotlight on their success. 

How did you get into licensing (or how did licensing find you)?
I started my career as a legal associate at Taiwo Kupolati & Co, where I worked mostly on cases and briefs that exposed me to research, creative writing, negotiation, contract drafting, and dispute resolution. I discovered my passion for intellectual property and licensing and decided to venture into it. I founded IP Business Capital some years after, with a mission to help creative entrepreneurs maximize value from their intellectual property through training and educational events. Since then, we have trained over 500 African creatives on how to exploit commercial value from their IPs using licensing, merchandising, and product sponsorship programs. The advisory arm of IP business Capital is focused on helping entertainment companies and green technology firms to license and commercialize their creative assets.

What’s a “typical” day in your current position?
Usually, my day-to-day tasks involve speaking with clients, advising them on issues related to intellectual property protection, licensing, and enforcement of rights. The most favorite aspect of my role is advising clients on how to protect intellectual property, communicating with potential licensees, developing marketing materials, and negotiating contract deals.

What’s your biggest personal or professional accomplishment?
I am particularly proud to be one of the first conveners of the IP annual discourse, where investors, innovators, and creative entrepreneurs discuss the future of innovation and intellectual property in Africa, proffer solutions to existing obstacles, and chart the way forward for the growth of creative sectors in Africa. I’m also excited to have launched the FUND LINK, a platform that connects green innovators to a network of licensees, distributors, and investors to scale and accelerate their impact. I worked with BIMS Software and Quad-loop Technologies to protect their IP assets, create strategic licensing programs to grow their creative catalogue, and increase revenue. And, of course, being a Licensing International 2023 Global Rising Star is such a pride!

What are the most significant trends or changes that you’ve seen in the business in recent years?
The entertainment industry in Nigeria has grown really big and it’s one of the most promising sectors for licensing and merchandising programs. The music industry generates over $2 biillion in revenue per year, while the film sector generates over $600 million yearly. The international market is looking for local talent and interesting stories from Nigeria—Davido, Burna Boy, Rema, Wizkid, Tiwa Savage, and many other artistes are taking the lead with international and local awards! This is indeed an interesting time for the entertainment sector in Nigeria, and we are here for it! This also shows that the opportunities for licensing and merchandising within these sectors will keep growing.

What keeps you up at night? What’s your biggest challenge these days?
For me, it’s really about ensuring that my clients (especially those in the green tech sectors) get access to funds, investors, or licensees who are willing to support the product development process of their solutions. Licensing in green tech is new and it’s sometimes difficult to communicate the value of the IP to stakeholders. So a big challenge is to ensure that there is a robust distribution line for new green tech solutions and communicating the value of the IP to investors and licensees.

In your opinion, what is the top skill every licensing executive should have in order to succeed?
I think communication, negotiation, and strong business acumen are important for any successful licensing program. And, most importantly, creativity and the ability to think outside the box when things get tough!

What’s the best piece of advice you’ve ever received, or what’s your favorite quote?
“Everyone cheats, at least a little!” from Greg Battersby’s Rules on Licensing. The licensee and licensor could read the definition of the net sales differently, and this could really affect the royalty rate. Audit provisions, open communication, and verification is very important!

What is your favorite licensing deal of all time? (It doesn’t have to be one that was signed by you.)
Character and image licensing of Aki and Pawpaw for the first ever Nollywood game “Aki and Pawpaw Epic Run.” The game features the superstar characters and images of Chinedu Ikedieze (Aki) and Osita Iheme (Pawpaw), as they run through various hurdles in the game to get points and coins.

If you weren’t in licensing, what would you be doing now?
I guess I would have taken a role in marketing and communications!

The last licensed product I bought was…
Branded t-shirts of Sinach, and artist in Nigeria.

The Rising Star Awards recognize the next generation of leaders around the world for their commitment, passion, and contributions to their company and the licensing industry. This year’s Rising Stars were recognized and celebrated at the Hall of Fame Gala Luncheon in New York City on December 6th, 2023.